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	<title>Business &#38; Money &#124; TIME.com</title>
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		<title>Business &#38; Money &#124; TIME.com</title>
		<link>http://business.time.com</link>
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		<title>Lyft-Off: Car-Sharing Start-Up Raises $60 Million Led by Andreessen Horowitz</title>
		<link>http://business.time.com/2013/05/23/lyft-off-car-sharing-startup-raises-60-million-led-by-andreessen-horowitz/</link>
		<comments>http://business.time.com/2013/05/23/lyft-off-car-sharing-startup-raises-60-million-led-by-andreessen-horowitz/#comments</comments>
		<pubDate>Thu, 23 May 2013 17:28:50 +0000</pubDate>
		<dc:creator>Sam Gustin</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Venture Capital]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80655</guid>
		<description><![CDATA[Popular car-sharing start-up Lyft has raised $60 million in a major new round of funding led by Andreessen Horowitz, the influential Silicon Valley venture-capital firm started by Netscape co-founder Marc Andreessen. The new funding comes as the ride-sharing market is exploding, with upstart firms like Lyft, Uber and SideCar leveraging smartphone technology to provide alternatives to traditional transportation options like taxicabs and rental cars. These services are examples of the emerging &#8220;peer to peer&#8221; economy &#8212; including Airbnb for lodging and TaskRabbit for everyday chores &#8212; in which people connect online to exchange services and get things done. Andreessen Horowitz&#8217;s investment in Lyft is a major boost for the fast-growing San Francisco–based start-up. &#8220;Andreessen Horowitz is ideal for us because they&#8217;ve built big businesses,&#8221; Lyft co-founder John Zimmer told TIME in an interview. &#8220;They&#8217;re very accomplished operators and they understand how to scale a business.&#8221; Founded in 2007, Andreessen Horowitz has quickly become a Silicon Valley powerhouse with $2.7 billion under management. The firm has invested in Facebook, Twitter, Groupon and Instagram, among dozens of other start-ups. (MORE: Lyft: Ride-Sharing Start-Up Zimride Hits the Gas Pedal in San Francisco) Since its launch last summer, Lyft has exploded in popularity. The company now facilitates over 30,000 rides per week in the four cities where it operates: San Francisco, Los Angeles, Seattle and Chicago. The company has hundreds of drivers, and in San Francisco alone, it has doubled the number of drivers over the past few months to keep up with demand. Lyft says that in each new city, the service has grown faster than the previous launch. In other words, Lyft is poised for liftoff. Lyft is a mobile-phone application — available on Apple’s iPhone and Google&#8217;s Android devices — that allows riders to “order” a driver to their location in minutes. Lyft makes money by taking a cut of the &#8220;fare&#8221; (technically a donation). Lyft&#8217;s drivers are regular people with cars who want to make a few bucks by giving someone a ride. All drivers are subjected to DMV and criminal-background checks and are required to undergo<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80655&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Venture Capital</primary_category><primary_category_link>http://business.time.com/category/technology-media/venture-capital/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/rtr37sb0.jpg?w=240</featured_image>
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			<media:title type="html">John Zimmer of Lyft speaks at TechCrunch Disrupt SF 2012 in San Francisco</media:title>
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			<media:title type="html">shgustin</media:title>
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		<title>Japan Market Crash: A Slow Leak in the &#8220;Central Bank Bubble&#8221;</title>
		<link>http://business.time.com/2013/05/23/japan-market-crash-a-slow-leak-in-the-central-bank-bubble/</link>
		<comments>http://business.time.com/2013/05/23/japan-market-crash-a-slow-leak-in-the-central-bank-bubble/#comments</comments>
		<pubDate>Thu, 23 May 2013 16:51:23 +0000</pubDate>
		<dc:creator>Rana Foroohar</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Curious Capitalist]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80719</guid>
		<description><![CDATA[There’s a truism in investing that the last one into a market is the first one out. And that certainly seems to be the case today, with Japan’s Nikkei index crashing off the back of two things: First, hints from the Federal Reserve that the U.S. economy is improving enough to justify a slow pull-back from the central bank&#8217;s market-goosing asset buying program known as “quantitative easing;” and second, that the Chinese economy is slowing down even more than we thought. For some time now, I’ve been writing that the global equity markets have been inflated by central banks &#8212; and that this was a bubble that would eventually pop once people realized that monetary policy, rather than the real economy, was behind the boom. (MORE: The Next Real Estate Bubble Has Already Begun (But It’s Not What You Think)) Well, folks, that time may be here. Behavioral economist Peter Atwater, whose firm Financial Insyghts focuses on the market implications of consumer sentiment, certainly thinks so. “I would offer that Abenomics&#8221; &#8212; i.e. Japanese prime minister Shinzo Abe’s plan to goose his nation&#8217;s economy with a combination of monetary policy and fiscal and structural reforms &#8212; &#8220;was the &#8216;subprime&#8217; of policy-making,” says Atwater. It’s a useful analogy: Subprime loans were the top of a real estate bubble that had been building for years in the U.S., and Japan’s version of quantitative easing is coming at the end of three years of money dumps by the U.S. Federal Reserve, each of which has had a smaller effect on the markets than those that came before. Sounds like a bubble to me. So, where do we go from here? Atwater and other folks like the smart guys at Capital Economics in London believe that the Nikkei will continue to be vulnerable and that Japan’s attempts to lower the value of it’s currency in order to boost exports and real economic activity may be at an end. In fact, you might even see the yen start to rise, especially if there’s another crisis in<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80719&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Curious Capitalist</primary_category><primary_category_link>http://business.time.com/category/curious-capitalist/</primary_category_link>
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		<title>Get a Job Offer from a Stranger</title>
		<link>http://business.time.com/2013/05/23/get-a-job-offer-from-a-stranger/</link>
		<comments>http://business.time.com/2013/05/23/get-a-job-offer-from-a-stranger/#comments</comments>
		<pubDate>Thu, 23 May 2013 15:30:30 +0000</pubDate>
		<dc:creator>Harvard Business Review</dc:creator>
				<category><![CDATA[Management & Leadership]]></category>
		<category><![CDATA[Management Tip of the Day]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80646</guid>
		<description><![CDATA[A good network is important when searching for a job. But if you don&#8217;t already know the right people, you need to expand your reach. People you don’t know yet can be just as helpful as those you do. Here’s how: Define your professional goals. Write down your objectives and make sure you can tell a cohesive story about yourself and where you’re headed. Cast a wide but focused net. Scour LinkedIn, company websites, and Twitter to identify people who may be able to offer you a job in your chosen field, or advice on how to get one. With this cold call approach, you’re not likely to get a high response rate so don’t be afraid to compile a long list. Tell a personal story. Write an email to each person making it clear who you are, what you’re interested in, and why he or she should respond and help you. Adapted from “Make a Stranger Believe in You” by Anne Kreamer. Visit Harvard Business Review&#8217;s Management Tip homepage Purchase the HBR Management Tips book<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80646&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Management Tip of the Day</primary_category><primary_category_link>http://business.time.com/category/management-leadership/management-tip-of-the-day/</primary_category_link>
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			<media:title type="html">timeharvardbusinessreview</media:title>
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		<title>Photo Shoot Your Way to Sales Growth</title>
		<link>http://business.time.com/2013/05/23/photo-shoot-your-way-to-sales-growth/</link>
		<comments>http://business.time.com/2013/05/23/photo-shoot-your-way-to-sales-growth/#comments</comments>
		<pubDate>Thu, 23 May 2013 15:00:59 +0000</pubDate>
		<dc:creator>Lauren Simonds</dc:creator>
				<category><![CDATA[Small Business]]></category>
		<category><![CDATA[Small Business Tip of the Day]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80585</guid>
		<description><![CDATA[The way you visually represent your company can affect your sales growth. We look at how using original photography makes a big difference in your bottom line. If you want to differentiate your business from your competition, then look no further than the images on your company website. Stock photography litters the Internet, and often the same generic models-as-business-people smile out from competing businesses. In theory, saving money on stock photography seems logical, especially for cash-strapped SMBs. And while studies show that websites with photos of happy people can do wonders for a company&#8217;s bad reputation, stock photography is a short-term fix that doesn’t yield any ROI. According to an article by Joe Taylor at Small Business Computing, investing in high-quality, professional photographs—of staff and of products—can drive business, boost sales conversions and help you stand out in a competitive field. These tips show you how. (MORE: Banking on Business Growth) Authentic Images Build Trust and Rapport Web-usability expert Jakob Nielsen and professional photographer Alina Vincent agree. People respond better to pictures of real employees on websites. People tend to ignore website images that don’t ring true, and instead will spend about 10 percent more time looking at company photos of real employees. It&#8217;s not surprising that a photographer would recommend a professional photo shoot, but Vincent posits that photos of your real employees will help you build a stronger rapport with potential customers. Go beyond the staid headshot; include a variety of images and settings that you can use on websites, catalogs, ads, billboards and brochures. Pro Shots Drive Business Perhaps your business deals more with products than with services. If so, high-quality product shots are essential if you want to increase sales conversions. Karen Lee, an expert on Etsy, says the quality of your product shots can mean the difference between business success and failure. She recommends shooting with indirect light and taking the time to consider each shot—including appropriate backdrops and props. The goal is to reveal the story behind each item and help it evoke a<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80585&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Small Business Tip of the Day</primary_category><primary_category_link>http://business.time.com/category/small-business/small-business-tip-of-the-day/</primary_category_link>
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		<title>The Consumer Psychology Behind Warby Parker&#8217;s $95 Pricing for Eyeglasses</title>
		<link>http://business.time.com/2013/05/23/the-consumer-psychology-behind-warby-parkers-95-pricing-for-eyeglasses/</link>
		<comments>http://business.time.com/2013/05/23/the-consumer-psychology-behind-warby-parkers-95-pricing-for-eyeglasses/#comments</comments>
		<pubDate>Thu, 23 May 2013 14:00:22 +0000</pubDate>
		<dc:creator>Knowledge@Wharton</dc:creator>
				<category><![CDATA[Breakthrough]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[E-commerce]]></category>
		<category><![CDATA[Entrepreneurship]]></category>
		<category><![CDATA[Giving]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Saving]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[Start-Ups]]></category>
		<category><![CDATA[charity]]></category>
		<category><![CDATA[eyeglasses]]></category>
		<category><![CDATA[online shopping]]></category>
		<category><![CDATA[pricing]]></category>
		<category><![CDATA[pricing strategies]]></category>
		<category><![CDATA[Walmart]]></category>
		<category><![CDATA[Warby Parker]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80617</guid>
		<description><![CDATA[<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80617&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>E-commerce</primary_category><primary_category_link>http://business.time.com/category/companies-industries/e-commerce-companies-industries/</primary_category_link>
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			<media:title type="html">TIME.com</media:title>
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		<title>US Unemployment Aid Applications Fall to 340K</title>
		<link>http://business.time.com/2013/05/23/us-unemployment-aid-applications-fall-to-340k/</link>
		<comments>http://business.time.com/2013/05/23/us-unemployment-aid-applications-fall-to-340k/#comments</comments>
		<pubDate>Thu, 23 May 2013 12:37:45 +0000</pubDate>
		<dc:creator>AP / Paul Wiseman</dc:creator>
				<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80708</guid>
		<description><![CDATA[(WASHINGTON) — The number of Americans applying for unemployment benefits fell by 23,000 last week, further evidence that the job market is slowly returning to health. Applications for unemployment aid declined to a seasonally adjusted 340,000 in the week ending May 18, the Labor Department said Thursday. That&#8217;s down from 363,000 the previous week and a level consistent with solid job gains. The less volatile four-week average ticked down just 500 to 339,500. That&#8217;s close to the five-year low of 338,000 reached during the first week of May. The four-week average is 9 percent lower than in November. &#8220;The underlying story in jobless claims continues to be one of gradual improvement,&#8221; Bricklin Dwyer, an economist at BNP Paribas, wrote in a research report. Unemployment claims are a proxy for layoffs. The decline in claims has coincided with steady job growth over the past six months. Since November, employers have added an average 208,000 jobs a month. That&#8217;s up from just 138,000 jobs a month during the previous six months. Still, much of the improvement has come from fewer layoffs, not robust hiring. Employers laid off just 1.7 million workers in March, only slightly above the 12-year low reached in January. Overall hiring, however, remains far below pre-recession levels. More than 4.7 million Americans were receiving unemployment benefits the week that ended May 4, down 23 percent from nearly 6.2 million a year earlier. The United States still has 2.6 million fewer jobs than it did when the recession began in December 2007. The unemployment has fallen to a four-year low of 7.5 percent, down from 10 percent in October 2009. Some of the decrease is because many people have given up looking for work. The government counts people as unemployed only if they are actively searching for a job. For hiring to strengthen enough to lower the unemployment rate to a more normal level of between 5.5 percent and 6 percent, companies must gain more confidence in the economy. But some may be hesitant to add workers because of concerns of<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80708&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Economy</primary_category><primary_category_link>http://business.time.com/category/economy-policy/economy/</primary_category_link>
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		<title>&#8216;Loser&#8217; No More: Tesla Repays $465 Million U.S. Loan</title>
		<link>http://business.time.com/2013/05/23/loser-no-more-tesla-repays-465-million-u-s-loan/</link>
		<comments>http://business.time.com/2013/05/23/loser-no-more-tesla-repays-465-million-u-s-loan/#comments</comments>
		<pubDate>Thu, 23 May 2013 12:00:26 +0000</pubDate>
		<dc:creator>Sam Gustin</dc:creator>
				<category><![CDATA[Autos]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80649</guid>
		<description><![CDATA[Tesla Motors has done right by U.S. taxpayers. The fast-growing electric car company has repaid the entire $465 million loan it received from the U.S. Department of Energy, in a vindication for company co-founder Elon Musk, the billionaire mogul and rocket-ship enthusiast. The loan repayment, made nine years ahead of schedule, was completed Wednesday when Tesla wired $451.8 million to the federal government. Tesla&#8217;s loan was part of the government&#8217;s 2010 Advanced Technology Vehicle Manufacturing Program, a $25 billion fund authorized by Congress, signed by President George W. Bush, and awarded under President Obama. The loan program, which was separate from the U.S. auto bailouts to GM and Chrysler under the Troubled Asset Relief Program (TARP), was designed to get fuel-efficient vehicles to consumers faster. (MORE: TIME Tech 40 &#8212; Elon Musk) With its loan payment, made using a portion of the $1 billion it raised last week in a stock and debt offering, Tesla becomes the only American car manufacturer in the DOE program to have fully repaid the government, the company said. &#8220;Today’s repayment is the latest indication that the Energy Department’s portfolio of more than 30 loans is delivering big results for the American economy while costing far less than anticipated,&#8221; U.S. Energy Secretary Ernest Moniz said in a statement. &#8220;Today, Tesla employs more than 3,000 American workers and is living proof of the power of American innovation.&#8221; The loan repayment is a major victory for Tesla, which was branded as a &#8220;loser&#8221; company by Mitt Romney during his unsuccessful 2012 Republican presidential campaign. &#8220;I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American taxpayer from whom these funds originate,&#8221; Musk said in a statement. &#8220;I hope we did you proud.&#8221; Founded in 2003, Tesla was originally funded entirely with private funds, led by Musk, a billionaire who co-founded PayPal. For many years the company struggled to gain traction, because building a car company from scratch is extremely capital-intensive. As recently as last year, Tesla was still hemorrhaging cash,<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80649&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Autos</primary_category><primary_category_link>http://business.time.com/category/companies-industries/autos-companies-industries/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/rtr3fc10.jpg?w=240</featured_image>
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			<media:title type="html">Elon Musk, the chief executive of Tesla Motor, speaks at the South by Southwest Interactive festival in Austin</media:title>
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			<media:title type="html">shgustin</media:title>
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		<title>How &#8216;Extreme Couponing&#8217; Is Ruining Coupons</title>
		<link>http://business.time.com/2013/05/23/how-extreme-couponing-is-ruining-coupons/</link>
		<comments>http://business.time.com/2013/05/23/how-extreme-couponing-is-ruining-coupons/#comments</comments>
		<pubDate>Thu, 23 May 2013 09:45:46 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Future of Retail]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Saving]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[couponing]]></category>
		<category><![CDATA[coupons]]></category>
		<category><![CDATA[double coupons]]></category>
		<category><![CDATA[extreme couponer]]></category>
		<category><![CDATA[extreme couponing]]></category>
		<category><![CDATA[grocery store]]></category>
		<category><![CDATA[Jill Cataldo]]></category>
		<category><![CDATA[Kroger]]></category>
		<category><![CDATA[Kroger's Ralphs]]></category>
		<category><![CDATA[supermarket]]></category>
		<category><![CDATA[Walmart]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80453</guid>
		<description><![CDATA[It always seemed mind-bogglingly difficult to achieve the kinds of savings portrayed on the TLC show &#8220;Extreme Couponing.&#8221; Thanks to tougher supermarket policies and the proliferation of less valuable coupons, extreme savings through coupons seems downright impossible. The best coupons have two key features: They offer discounts on the products you like and would be buying anyway, and the discounts are substantial enough to justify the time required for clipping them. Increasingly, however, American consumers are coming across coupons that have neither of these features. A NCH Marketing report released earlier this year indicated that there was a 17% drop in coupon redemption in 2012. Among consumers who used fewer coupons last year, the most popular explanation given for the decreasing in couponing was this: “I can’t find coupons for the products I want to buy.” (MORE: Former Extreme Couponer Admits: &#8216;It&#8217;s a Waste of Time&#8217;) What&#8217;s more, it&#8217;s getting more difficult to find coupons that save the shopper a decent chunk of change. In early May, Kroger, one of the world&#8217;s largest supermarket companies, lowered prices on thousands of items in its stores in Virginia, North Carolina, West Virginia, and elsewhere in the Mid-Atlantic region. You&#8217;d expect that news like that would be greeted with applause and gratitude from consumers. Instead, many shoppers have been grumbling that recent changes at Kroger will make them more likely to frequent dollar stores and Walmart—because Kroger&#8217;s price drops were accompanied by a ban on double couponing. The company had previously pulled the plug on double coupons in Texas and California, and spokesman Carl York told the Charleston (W.V.) Gazette that shoppers shouldn&#8217;t expect any stores to double coupons—turning 30¢ off coupon instantly into 60¢ off at the register—down the line. &#8220;I think double coupons is something that&#8217;s going to go away at some point,&#8221; York said. &#8220;The industry is moving away from that.&#8221; Regardless, shoppers have created a Bring Back Doubles Facebook page, and online commenters have been chiming in with observations comparing the move to JC Penney&#8217;s much-hated decision to scale<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80453&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Saving</primary_category><primary_category_link>http://business.time.com/category/saving-saving-spending/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/07/bu002306-e13426289177591.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2012/07/bu002306-e13426289177591.jpg?w=240" />
		<media:content url="http://timebusinessblog.files.wordpress.com/2012/07/bu002306-e13426289177591.jpg?w=240" medium="image">
			<media:title type="html">Coupons</media:title>
		</media:content>

		<media:content url="http://0.gravatar.com/avatar/f8de938518e7b986d552694ed99aa54d?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">bradtuttle</media:title>
		</media:content>
	</item>
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		<title>The Next Real Estate Bubble Has Already Begun (But It&#8217;s Not What You Think)</title>
		<link>http://business.time.com/2013/05/23/the-next-real-estate-bubble-has-already-begun-but-its-not-what-you-think/</link>
		<comments>http://business.time.com/2013/05/23/the-next-real-estate-bubble-has-already-begun-but-its-not-what-you-think/#comments</comments>
		<pubDate>Thu, 23 May 2013 09:45:00 +0000</pubDate>
		<dc:creator>Christopher Matthews</dc:creator>
				<category><![CDATA[Agriculture]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Real Estate]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80612</guid>
		<description><![CDATA[The American public is, for obvious reasons, a bit gun-shy when it comes to asset bubbles. Ever since the financial crisis, market watchers have worried about bubbles in the stock market, in high yield debt, and even the reinflation of the real estate bubble. The latest asset class to receive worried attention from policy makers? Farmland. That&#8217;s right, according to The Financial Times prices on U.S. farmland have doubled over the past decade, and are on pace to rise more than 10% again this year, even in the face of weaker grain markets of late. The main force that has been driving the increases in farmland prices has been a steady bull market in agricultural commodity prices. But according to the FT report, lately &#8220;big investors&#8221; have been dipping their toes into the farmland market in an attempt to take advantage of high agriculture profits and as a hedge against inflation. (MORE: The Accounting Trick Behind Thirty Years of Scandal) This run up in prices, combined with the fact that interest rates are at historic lows, have some land owners and policy makers worried that this bull market could end in heartbreak for many of America&#8217;s farmers &#8212; especially in the Midwestern corn belt, where price increases have been most pronounced. The dynamic has gotten the attention of the Federal Advisory Council, a group which advises the Federal Reserve on monetary policy. According to Bloomberg, the council warned the Fed in February that, &#8220;Agricultural land prices are veering further from what makes sense . . Members believe the run-up in agriculture land prices is a bubble resulting from persistently low interest rates.” The effect of a farmland bubble bursting, however, probably shouldn&#8217;t be of much concern to those of us not directly involved in agriculture. As real estate economist Robert Shiller wrote back in 2011, &#8220;farmland is much less important than other speculative assets. For example, U.S. farmland had a total value of $1.9 trillion in 2010, compared with $16.5 trillion for the U.S. stock market and $16.6 trillion for the U.S. housing market.&#8221; Since the value of farmland<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80612&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Real Estate</primary_category><primary_category_link>http://business.time.com/category/economy-policy/real-estate-economy-policy/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/168780384.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2013/05/168780384.jpg?w=240" />
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			<media:title type="html">Corn is planted in a field outside in Henry, Ill., U.S., on May 14, 2013.</media:title>
		</media:content>

		<media:content url="http://2.gravatar.com/avatar/8f9a71742e964af96ca58c01a0577a0d?s=96&#38;d=http%3A%2F%2F2.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">christopherrmatthews</media:title>
		</media:content>
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		<item>
		<title>Memorial Day Gas Prices: After Wild Ride, About Where We Were Last Year</title>
		<link>http://business.time.com/2013/05/22/memorial-day-gas-prices-after-wild-ride-about-where-we-were-last-year/</link>
		<comments>http://business.time.com/2013/05/22/memorial-day-gas-prices-after-wild-ride-about-where-we-were-last-year/#comments</comments>
		<pubDate>Wed, 22 May 2013 18:27:33 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Autos]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[Transportation]]></category>
		<category><![CDATA[california]]></category>
		<category><![CDATA[gas]]></category>
		<category><![CDATA[gas prices]]></category>
		<category><![CDATA[gas stations]]></category>
		<category><![CDATA[GasBuddy]]></category>
		<category><![CDATA[gasoline]]></category>
		<category><![CDATA[midwest]]></category>
		<category><![CDATA[Minnesota]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80605</guid>
		<description><![CDATA[Memorial Day weekend, known not only as a time for hitting the road but also the kickoff to the summer road trip season, has always been regarded as a key moment for gas prices. This year, the national average for a gallon of regular is almost exactly the same as it was for Memorial Day 2012. And yet, for the past two years, the periods leading up to Memorial Day couldn&#8217;t be more different. In 2012 and 2013, the first two months of the year were both marked by increases in prices at the pump, including curiously sharp spikes in February, despite relatively low demand in the marketplace. That&#8217;s when the similarities in 2012 and 2013 gas prices end. In March 2013, trends shifted gears compared to the year before. Gas prices almost never drop during the month of March, and sure enough, they rose swiftly in March 2012. Fast-forward a year later, however, and prices at the pump dipped significantly in March 2013. By early April 2013, the national average was around $3.64, 30¢ cheaper than the year before. Prices continued dropping throughout the month, reaching roughly the $3.50 mark. (MORE: Peak Traffic Ticket Season Is Here: Police Pushed to Give More Seat Belt Citations) More recently, gas prices have been on the rise around the country—and especially in the Midwest and California. Thanks to refinery outages, the statewide average in Minnesota hit $4.27 per gallon this week, an all-time high for the state and the highest average in the Lower 48, according to the Minneapolis Star-Tribune. GasBuddy noted that drivers in North Dakota were also paying all-time highs for gasoline, and much of the Midwest was nearing record high gas prices just in time for Memorial Day. The latest Energy Information Administration report states that the national average jumped roughly 14¢ over the past two weeks, thanks in particular to prices spikes in the Midwest and California, where a gallon of regular jumped 18¢ in two weeks. Around this time last year, by contrast, gas prices were decreasing<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80605&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Transportation</primary_category><primary_category_link>http://business.time.com/category/companies-industries/transportation-companies-industries/</primary_category_link>
		<media:content url="http://0.gravatar.com/avatar/f8de938518e7b986d552694ed99aa54d?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">bradtuttle</media:title>
		</media:content>
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		<item>
		<title>Bernanke’s Dilemma: No Good Moves Left</title>
		<link>http://business.time.com/2013/05/22/bernankes-dilemma-no-good-moves-left/</link>
		<comments>http://business.time.com/2013/05/22/bernankes-dilemma-no-good-moves-left/#comments</comments>
		<pubDate>Wed, 22 May 2013 17:28:18 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Banking]]></category>
		<category><![CDATA[Bonds]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Government]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Jobs]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80573</guid>
		<description><![CDATA[There’s a term in chess called zugzwang, which describes the point in a game when it&#8217;s your turn to move but every move you could make would worsen your situation. That’s pretty much what the chessboard looked like for Federal Reserve chairman Ben Bernanke when he testified before Congress this morning. What everyone most wants to know is when the Fed is going to start tapering off its bond-buying program (called Quantitative Easing), which has flooded the banking system with money for the past five years and kept interest rates abnormally low. And that was something Bernanke couldn&#8217;t answer. In his testimony, the Fed chairman gave a carefully hedged commitment that the central bank would continue buying bonds – currently $85 billion a month – until the economy is stronger. And he repeated last December&#8217;s official statement that the Fed intends &#8220;to maintain highly accommodative monetary policy as long as needed to support continued progress toward maximum employment and price stability.&#8221; When asked at what point the bond-buying policy might change, Bernanke was more evasive, saying that the Fed might need a few more meetings to make that decision. Asked if it would be decided by Labor Day, he demurred. Bernanke&#8217;s hedging isn&#8217;t primarily a sign of indecisiveness. His real problem is that given current economic conditions, there aren&#8217;t any good moves he can make. The conventional wisdom – and the presumption behind the Fed&#8217;s current policy – is that the economy is steadily improving, even if progress is slow. And while easy money eventually leads to higher inflation, that threat could still be several years away. So ideally, the Fed&#8217;s stimulus could get the economy back to a normal rate of growth before inflation becomes a problem, at which point the Fed could taper off its bond buying little by little and gracefully exit the picture. (MORE: The Unspeakably Wonky Idea That Can Solve the Corporate Tax Debate) But what if the economy isn&#8217;t getting better, or is improving so sluggishly that it will take years to get back to normal?<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80573&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Federal Reserve</primary_category><primary_category_link>http://business.time.com/category/economy-policy/federal-reserve-economy-policy/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/169246414.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2013/05/169246414.jpg?w=240" />
		<media:content url="http://timebusinessblog.files.wordpress.com/2013/05/169246414.jpg?w=240" medium="image">
			<media:title type="html">Federal Reserve Board Chairman Ben Bernanke at a hearing before the Joint Economic Committee  on Capitol Hill, in Washington, D.C., on May 22, 2013.</media:title>
		</media:content>

		<media:content url="http://2.gravatar.com/avatar/b8875a12f713f52ecc28fe72efed7fd4?s=96&#38;d=http%3A%2F%2F2.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">michaelsivy</media:title>
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		<title>Theme Park Inflation: Universal Orlando Becomes First to Cross $90 Admission Mark</title>
		<link>http://business.time.com/2013/05/22/theme-park-inflation-universal-orlando-becomes-first-to-cross-90-admission-mark/</link>
		<comments>http://business.time.com/2013/05/22/theme-park-inflation-universal-orlando-becomes-first-to-cross-90-admission-mark/#comments</comments>
		<pubDate>Wed, 22 May 2013 13:30:27 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Saving]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[Tourism]]></category>
		<category><![CDATA[Travel]]></category>
		<category><![CDATA[Disney]]></category>
		<category><![CDATA[Florida]]></category>
		<category><![CDATA[hotels]]></category>
		<category><![CDATA[Orlando]]></category>
		<category><![CDATA[SeaWorld]]></category>
		<category><![CDATA[souvenirs]]></category>
		<category><![CDATA[Universal Orlando]]></category>
		<category><![CDATA[Universal Studios]]></category>
		<category><![CDATA[Universal Studios Orlando]]></category>
		<category><![CDATA[vacation packages]]></category>
		<category><![CDATA[Walt Disney World]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80535</guid>
		<description><![CDATA[It&#8217;s become an annual springtime tradition. Each year around Memorial Day, some theme park—likely in central Florida—jacks up ticket prices by a few bucks, prompting the competition to follow suit with their own price hikes. This year, like last, it&#8217;s Universal Studios Orlando leading the charge. Toward the end of May 2012, the company raised its single-day admission to $88, up from $85, making Universal Studios Orlando the most expensive theme park in the U.S. Within weeks, Walt Disney World took over that title by boosting its one-day base pass to $89. That&#8217;s the adult price; kids ages 3 to 9 catch a $6 price break, with a $83 single-day ticket. This week, Universal again was out in front of the seasonal ticket price hikes, raising its single-day, single-park adult admission to $92 plus tax. The child one-day ticket now starts at $86. As ThemeParkInsider.com explained, it&#8217;s highly likely that Universal&#8217;s theme park competitors will follow along with their own price hikes, making the argument that right now may be a good time to purchase those Disney admissions passes: History shows that whenever one of the Big Three in Orlando &#8212; Disney, Universal and SeaWorld &#8212; raises prices, at least one of the others follows. So if you&#8217;re on the fence about buying Walt Disney World or SeaWorld Orlando tickets, you might want to hurry up and do it before those parks match Universal&#8217;s increase. (MORE: Is Airlines-Style Variable Pricing Coming to Theme Park Tickets?) More so than ever, the price hikes seem intended to push visitors into buying multi-day theme park passes. The one-day adult admission to a single Universal Studios park is $92, while a two-day pass runs $125.99 and a three-day ticket is $140.99. In other words, if you&#8217;re buying a three-day pass, the second and third days cost a total of $49, or a little over half the price of that first day&#8217;s admission. A four-day pass costs just $10 more than the three-day version. All of the prices above are for passes that allow entrance<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80535&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Tourism</primary_category><primary_category_link>http://business.time.com/category/companies-industries/tourism/</primary_category_link>
		<media:content url="http://0.gravatar.com/avatar/f8de938518e7b986d552694ed99aa54d?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">bradtuttle</media:title>
		</media:content>
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		<item>
		<title>JetBlue Proves There&#8217;s a Reasonable Way to Hit Us With Fees</title>
		<link>http://business.time.com/2013/05/22/jetblue-proves-theres-a-reasonable-way-to-hit-us-with-fees/</link>
		<comments>http://business.time.com/2013/05/22/jetblue-proves-theres-a-reasonable-way-to-hit-us-with-fees/#comments</comments>
		<pubDate>Wed, 22 May 2013 12:00:38 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Airlines]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[Transportation]]></category>
		<category><![CDATA[Travel]]></category>
		<category><![CDATA[airline fees]]></category>
		<category><![CDATA[American Airlines]]></category>
		<category><![CDATA[Fees]]></category>
		<category><![CDATA[frequent flier]]></category>
		<category><![CDATA[JetBlue]]></category>
		<category><![CDATA[JetBlue Airways]]></category>
		<category><![CDATA[loyalty programs]]></category>
		<category><![CDATA[Southwest Airlines]]></category>
		<category><![CDATA[ticket change fees]]></category>
		<category><![CDATA[TrueBlue]]></category>
		<category><![CDATA[TrueBlue Mosaic]]></category>
		<category><![CDATA[united airlines]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80551</guid>
		<description><![CDATA[You know the drill: An airline hikes its fees, and within seconds travelers vent their outrage in response. JetBlue shows that it doesn&#8217;t have to be this way. When United Airlines raised its ticket change fee to $200 (up from $150) a few weeks ago, the masses grumbled in here-we-go-again exasperation, in full expectation that the competition would follow suit with fee hikes of their own. Sure enough, by early May, Delta, US Airways, and American Airlines had all also boosted their ticket change fees from $150 to $200. Among the holdouts that didn&#8217;t jack up their change fees were Southwest Airlines and JetBlue, the two most fee-adverse carriers, which still allow passengers to check at least one bag free of charge—and which, by no small coincidence, regularly receive the highest ratings in terms of customer satisfaction. As of May 17, however, JetBlue raised its change fees. (MORE: The One Airline That Stubbornly Refuses to Pile on the Fees &#8212; For Now) What&#8217;s more surprising than the fact that JetBlue jacked up its change fees is that hardnosed travel advocates aren&#8217;t hating on the new fees. Brett Snyder, who writes the CrankyFlier blog admits that he &#8220;bashed&#8221; United&#8217;s change fee hike. JetBlue&#8217;s policy changes instead represent the &#8220;right way to increase your change fee,&#8221; Snyder wrote. &#8220;Good work, JetBlue,&#8221; he wrote. &#8220;You found a way to increase your change fee in a way that’s more consumer-friendly.&#8221; How can any fee increase be consumer-friendly? Well, in JetBlue&#8217;s case, travelers can at least see that the policy changes make sense compared to what&#8217;s become the industry standard. The $200 fee for changing a ticket with United, American, and the others is a flat charge assessed no matter what the price of the original ticket, and no matter when the passenger is making an itinerary change. These rules strike many travelers as unfair, and perhaps even silly and counterproductive. A traveler who purchased a one-way ticket for, say, $125, and needs to change travel dates has no incentive to report the change to<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80551&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2013/05/22/jetblue-proves-theres-a-reasonable-way-to-hit-us-with-fees/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Airlines</primary_category><primary_category_link>http://business.time.com/category/companies-industries/airlines-big-companies/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/166067695.jpg?w=240</featured_image>
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			<media:title type="html">A JetBlue A320 in Mobile, Ala., on April 8, 2013.</media:title>
		</media:content>

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			<media:title type="html">bradtuttle</media:title>
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		<title>Oklahoma&#8217;s Dangerous Dearth of Storm Cellars</title>
		<link>http://business.time.com/2013/05/22/oklahomas-dangerous-dearth-of-storm-cellars/</link>
		<comments>http://business.time.com/2013/05/22/oklahomas-dangerous-dearth-of-storm-cellars/#comments</comments>
		<pubDate>Wed, 22 May 2013 09:45:36 +0000</pubDate>
		<dc:creator>Martha C. White</dc:creator>
				<category><![CDATA[Real Estate & Homes]]></category>
		<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80555</guid>
		<description><![CDATA[UPDATED 5/22/13 12:30 pm The deadly tornadoes that struck outside Oklahoma City on Monday have a lot of people asking why there aren&#8217;t more storm cellars and safe rooms in the area, which would have enabled more residents to shelter safely. Glenn Lewis, the mayor of devastated Moore, Oklahoma, said today that he wants to pass a law requiring either tornado shelters or safe rooms in new homes. &#8221;We&#8217;ll try to get it passed as soon as I can,&#8221; he told CNN. In the meantime, however, why were so many area residents unable to flee into a conventional storm cellar or basement as the storm approached? To debunk one popular myth: It’s not that these structures can’t be built in the area. But a combination of market and climatological forces makes them expensive and rare. A key factor behind the dearth of basements in Oklahoma is the region&#8217;s frost line. Structural foundations everywhere need to be set below the depth at which the surrounding ground freezes. In most northern states, that means digging as much as six feet down — and if you’ve already gone to that much effort, you might as well just go ahead and build a basement. In Oklahoma, however, the frost line is only about 18 inches below the earth&#8217;s surface, and since there’s no structural or financial advantage to digging deeper, most builders don’t. “The main issue is cost,&#8221; explains Calvin Taylor, owner of Taylor Concrete Construction in the northeast Oklahoma city of Tahlequah. &#8220;They can go down and put a slab floor down for less.” (PHOTOS: Tornado Flattens Suburb Outside Oklahoma City, Kills Dozens) Then there&#8217;s the unusual quality of the earth itself in parts of Oklahoma. In the northeast part of the state, rocky soil often requires builders to use a jackhammer to dig basement, which is more expensive than the conventional process. Other parts of the state have unusually shallow soil covering sandstone bedrock, which means even more heavy-duty excavation. That can add several hundred to a few thousand dollars onto the cost, says Mike Hancock,<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80555&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Real Estate &amp; Homes</primary_category><primary_category_link>http://business.time.com/category/personal-finance-2/real-estate-homes/</primary_category_link>
		<media:content url="http://0.gravatar.com/avatar/9a5a9e4f28beb5afb59b1202632d219a?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">marthacwhite</media:title>
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		<title>The Unspeakably Wonky Idea That Can Solve the Corporate Tax Debate</title>
		<link>http://business.time.com/2013/05/21/formulary-apportionment-the-unspeakably-wonky-idea-that-can-solve-the-corporate-tax-debate/</link>
		<comments>http://business.time.com/2013/05/21/formulary-apportionment-the-unspeakably-wonky-idea-that-can-solve-the-corporate-tax-debate/#comments</comments>
		<pubDate>Tue, 21 May 2013 19:12:38 +0000</pubDate>
		<dc:creator>Christopher Matthews</dc:creator>
				<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80518</guid>
		<description><![CDATA[Kentucky Senator Rand Paul isn&#8217;t happy that Apple executives are being questioned by the Senate Permanent Subcommittee on Investigations today regarding their tax avoidance strategies. Apple is completely justified, Paul argued, in paying as little in taxes as is legally acceptable. &#8221;Instead of Apple executives we should have brought in here a giant mirror,&#8221; he said. &#8220;&#8221;Congress should be on trial here for creating a byzantine tax code.&#8221; Though committee chair Carl Levin would probably disagree with Paul&#8217;s characterization of today&#8217;s hearing as a politically motivated witch hunt, Paul&#8217;s analysis is at least correct in the sense that corporations will always pay the least amount of taxes they can within the bounds of the law &#8212; and if anybody is to blame for low effective corporate tax rates, it&#8217;s Congress. (MORE: The Corporate Tax Rate Is Lowest in Decades; Is Business Paying Its Fair Share?) So how can the law be crafted so that companies can&#8217;t engage in the sort of tactics that have allowed Apple to pay much lower tax rates that the law intends? One idea that&#8217;s been bandied about for many years, but which hasn&#8217;t made a lot of headway, goes by the not-so-glamorous name &#8220;formulary apportionment.&#8221; Under this system, the U.S. could tax companies based on what percentage of sales occur here. For instance, if Apple sold 30% of its products in America, then the U.S. government would tax 30% of Apple&#8217;s income at the statutory corporate tax rate of 35%. This sort of system would work best if it were implemented internationally, but as the Brookings Institute points out in its analysis of formulary apportionment, the U.S. could move to this sort of system unilaterally because the move would actually incentivize companies to report their profits in America. This is because we&#8217;d be taxing only a fraction of profits regardless of where they&#8217;re reported, and this dynamic would motivate other countries to jump aboard a formulary apportionment system as well. Some powerful, multinational corporations may oppose such a move for several reasons. The current system allows multinational corporations to play<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80518&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Taxes</primary_category><primary_category_link>http://business.time.com/category/economy-policy/taxes-economy-policy/</primary_category_link>
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			<media:title type="html">christopherrmatthews</media:title>
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		<title>Banking on Business Growth</title>
		<link>http://business.time.com/2013/05/21/banking-on-business-growth/</link>
		<comments>http://business.time.com/2013/05/21/banking-on-business-growth/#comments</comments>
		<pubDate>Tue, 21 May 2013 16:54:16 +0000</pubDate>
		<dc:creator>Lauren Simonds</dc:creator>
				<category><![CDATA[Small Business]]></category>
		<category><![CDATA[Small Business Tip of the Day]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80435</guid>
		<description><![CDATA[Your banker can make a big difference in your long-term business success. Is yours working hard for you? The right partnerships can play a big role in the success or failure of a business, so enter into any partnership with an eye toward how it can advance your goals. Choose a bank the same way, not because it’s next door and you’ve always gone there. Finding the right bank for your needs doesn&#8217;t take a lot of work, but it can offer a lot of rewards. Asking the right questions and building a strong relationship with your banker can save you money on interest rates and result in new business opportunities. These American Bankers Association tips, discussed by Joe Taylor at Small Business Computing, can help you improve your current banking situation or help you find a bank that works for you. (MORE: Talk Your Way to Success) 1. Make it Personal Personal connections are more meaningful and memorable, so get to know the people who make decisions at your bank by having face-to-face conversations throughout the year. Discuss your accounts and let them know you&#8217;re willing to help bring business to their bank if they&#8217;re willing to help you grow your business. Banks often reward this kind of loyalty with free services or lower interest rates on credit cards (both for you and your employees) and other financial products. Be sure to ask how you can qualify for these types of discounts. 2. Request an Annual Review Banks have experts who specialize in helping other companies grow, but many small business owners fail to take advantage of their expertise. Request an annual review, where your team can present to the bank&#8217;s relationship manager and other relevant members of the staff. Ask them to share their view of your firm&#8217;s financial performance, possible business opportunities, and your prospects for growth within your industry. The information you receive can be invaluable when you&#8217;re ready to pitch your business to potential investors. 3. Monitor Give and Take Does your current banker suggest<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80435&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Small Business Tip of the Day</primary_category><primary_category_link>http://business.time.com/category/small-business/small-business-tip-of-the-day/</primary_category_link>
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			<media:title type="html">itbeeditorial</media:title>
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		<title>JPMorgan&#8217;s Dimon Survives Shareholder Referendum</title>
		<link>http://business.time.com/2013/05/21/jpmorgans-dimon-survives-shareholder-referendum/</link>
		<comments>http://business.time.com/2013/05/21/jpmorgans-dimon-survives-shareholder-referendum/#comments</comments>
		<pubDate>Tue, 21 May 2013 16:01:48 +0000</pubDate>
		<dc:creator>AP / Christina Rexrode</dc:creator>
				<category><![CDATA[Wall Street & Markets]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80523</guid>
		<description><![CDATA[(TAMPA, Fla.) — Shareholders at JPMorgan Chase will let Jamie Dimon, the chairman and CEO, keep both his jobs. At the bank&#8217;s annual meeting, 32 percent of shareholders voted for a measure that would have required the bank to split the roles. Had the measure succeeded, Dimon would have had to relinquish the role of chairman. Shareholder groups lobbying for the split gained momentum from last year&#8217;s surprise $6 billion trading loss, which tarnished the reputation of both JPMorgan Chase &#38; Co. and CEO Dimon. The bank and Dimon had argued that letting Dimon keep both jobs was the most effective form of leadership. It&#8217;s a topic that has turned into a referendum on Dimon, who emerged from the financial crisis heading one of the strongest banks in the country. His reputation has been hurt over the past year over fallout from the so-called &#8220;London whale&#8221; trading loss, nicknamed for its size and the location of the trader who made the outsized bets on complex debt securities that went wrong. At the meeting, held at company offices on the outskirts of Tampa, Fla., off a highway exit populated with gas stations and the Florida State fairgrounds, had fewer theatrics than last year, which was held just days after the trading loss was disclosed. Last year, two or three dozen protesters showed up, but Tuesday was quieter. One woman with a cardboard sign was spotted, but only briefly. The bank is facing regulatory investigations and lawsuits, not only over the trading loss but other practices including foreclosures and alleged rigging of power prices. Michael Garland from the New York City Comptroller&#8217;s Office, which supports splitting the roles, said he appreciated that JPMorgan led its peers by certain financial measures. But, he added, &#8220;it also leads its peers in regulatory investigations.&#8221; Lisa Lindsley from the union group AFSCME, which filed the proposal asking to split the jobs, said the bank needed &#8220;a new tone at the top.&#8221; She said the proposal was never intended as a referendum against Dimon or a &#8220;personality<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80523&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Wall Street &amp; Markets</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/</primary_category_link>
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			<media:title type="html">timeassociatedpress</media:title>
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		<title>Focus Your Business Pitch on Yourself, Not Your Plan</title>
		<link>http://business.time.com/2013/05/21/80519/</link>
		<comments>http://business.time.com/2013/05/21/80519/#comments</comments>
		<pubDate>Tue, 21 May 2013 15:42:28 +0000</pubDate>
		<dc:creator>Harvard Business Review</dc:creator>
				<category><![CDATA[Management & Leadership]]></category>
		<category><![CDATA[Management Tip of the Day]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80519</guid>
		<description><![CDATA[Potential investors and partners are often more interested in an entrepreneur as a person than in the business plan. That document is important, but be sure to also show these three characteristics: Passion and purpose. Investors want to know if you’re the right person for this idea. Make your personal connection to the business you’re launching clear. Resilience. The road to building a business is full of speed bumps. Share some failure stories to show you can bounce back from challenges. Resource magnetism. Can you attract money, people, and other resources? This is more important than charisma. Whether or not you have a thousand-watt smile, you need to be able to persuade people to join your cause. Adapted from “Entrepreneurs: You&#8217;re More Important Than Your Business Plan” by Rich Leimsider and Cheryl Dorsey. Visit Harvard Business Review&#8217;s Management Tip homepage Purchase the HBR Management Tips book<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80519&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Management Tip of the Day</primary_category><primary_category_link>http://business.time.com/category/management-leadership/management-tip-of-the-day/</primary_category_link>
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			<media:title type="html">timeharvardbusinessreview</media:title>
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		<title>Inside Yahoo!&#8217;s Tumblr Deal: Here&#8217;s Who Hit the Billion Dollar Jackpot</title>
		<link>http://business.time.com/2013/05/21/inside-yahoos-tumblr-deal-heres-who-hit-the-billion-dollar-jackpot/</link>
		<comments>http://business.time.com/2013/05/21/inside-yahoos-tumblr-deal-heres-who-hit-the-billion-dollar-jackpot/#comments</comments>
		<pubDate>Tue, 21 May 2013 14:14:13 +0000</pubDate>
		<dc:creator>Sam Gustin</dc:creator>
				<category><![CDATA[Technology & Media]]></category>
		<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80484</guid>
		<description><![CDATA[It will likely be years before we know if Yahoo!&#8217;s blockbuster $1.1 billion deal to buy social blogging platform Tumblr was a success. But 24-hours after the deal was officially announced, a few things are certain: The deal represents a landmark event for New York City&#8216;s tech startup scene, and a handful of Tumblr employees and investors are now extremely wealthy. Here&#8217;s a quick breakdown of the big winners and how much they made on the deal: Founder David Karp: $253 million Karp, the 26-year-old high school dropout who founded the company six years ago, owns approximately 25% of Tumblr and is set to reap $253 million in cash as a result, according to data compiled by PrivCo, a New York-based research firm that tracks private companies and the venture capital industry. Karp&#8217;s net worth had already been estimated at $200 million after Tumblr&#8217;s most recent venture capital round, but by tech mogul standards, he leads a relatively frugal lifestyle. (His Brooklyn loft is worth $1.6 million, but it&#8217;s only a one-bedroom.) At least now Karp can afford to go to college, he quipped to The New York Times. (MORE: Gambling on Tumblr: Marissa Mayer’s Billion-Dollar Bet to Make Yahoo Cool) Investors: $750 million Tumblr&#8217;s investors, of course, hit paydirt. New York-based Union Square Ventures and Boston-based Spark Capital led an initial Tumblr investment of $775,000 in 2007, and then added $4.5 million one year later, according to Bloomberg. Together, the firms owned nearly half of Tumblr, and are walking away with a 50-fold return on their investment, making the deal a once-in-a-decade grand slam. Union Square, which is run by Fred Wilson, arguably New York&#8217;s most prominent venture capitalist, is making $253 million on the deal, while Spark (including partner Bijan Sabet) is making $231 million, according to PrivCo. Meanwhile, Silicon Valley venture capital titan Sequoia Capital is walking away with $176 million, while four other late stage investors, Greylock Partners, Insight Venture Partners, CrunchFund, and Draper Fisher Jurvetson, are making a combined $88 million, according to PrivCo. Tumblr employees: $66 million, or $371,000 each Thanks to stock options, Tumblr&#8217;s employees<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80484&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Technology &amp; Media</primary_category><primary_category_link>http://business.time.com/category/technology-media/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/169137336.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2013/05/169137336.jpg?w=240" />
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			<media:title type="html">Tumblr founder David Karp watches at a news conference with Yahoo CEO Marissa Mayer about the company&#039;s acquisition of Tumblr in Times Square in New York City, on May 20, 2013.</media:title>
		</media:content>

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			<media:title type="html">shgustin</media:title>
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		<title>It’s Official: Tech Has Replaced Banking as the New Corporate Bad Guy</title>
		<link>http://business.time.com/2013/05/21/its-official-tech-has-replaced-banking-as-the-new-corporate-bad-guy/</link>
		<comments>http://business.time.com/2013/05/21/its-official-tech-has-replaced-banking-as-the-new-corporate-bad-guy/#comments</comments>
		<pubDate>Tue, 21 May 2013 13:37:18 +0000</pubDate>
		<dc:creator>Rana Foroohar</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Apple]]></category>
		<category><![CDATA[Tim Cook]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=80509</guid>
		<description><![CDATA[U.S. senators have accused Apple, the world’s most valuable company, of also being the world’s biggest tax avoider, as congressional investigators yesterday laid out how the technology giant has jumped through tax loophole after loophole in order to save some $44 billion of otherwise taxable income. Today they&#8217;ll follow up by grilling Apple CEO Tim Cook on Capitol Hill. Aside from the fact that Apple clearly has amazing tax lawyers, what does all this mean? Here are the four key things you need to know: 1. Corporate tax reform will be the big issue in Washington now that the deficit is off the front burner. As I wrote in back in January, American firms have some $2 trillion in cash on their balance sheets stashed abroad, in large part because they don’t want to bring that money home and pay America’s 35% corporate tax rate. (Ireland, where Apple apparently stashed much of its cash, has a 12.5% rate &#8212; though it appears Apple was able to negotiate an even lower one than that.) With unemployment still high, and wages still flat, the government wants companies to bring that cash back to the U.S. and put it work creating jobs at home – and the investigation into Apple’s finances is clearly a warning shot to other major U.S. multinationals. Tax reform is coming, not just in the U.S., but also in other major developed countries (more about that below). (MORE: Senate Panel Says Apple Uses Firms Outside the U.S. to Avoid Taxes) 2. Cash rich tech firms are replacing bankers as the new corporate bad guys. A year ago, I wrote a column called Learning To Hate Big Tech, which led with the investigation into Apple’s tax avoidance, but also laid out other Big Tech v. Government battles, like the push to get Amazon to pay local sales tax (which the government won) and the FTC’s anti-trust investigations into Google. The bottom line is that when you have a lot of cash and can move much of it abroad easily, as the biggest tech companies<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=80509&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Taxes</primary_category><primary_category_link>http://business.time.com/category/economy-policy/taxes-economy-policy/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/2013-05-21t161748z_1970799653_gm1e95m0.jpg?w=240</featured_image>
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		<media:content url="http://timebusinessblog.files.wordpress.com/2013/05/2013-05-21t161748z_1970799653_gm1e95m0.jpg?w=240" medium="image">
			<media:title type="html">Apple CEO Tim Cook appears before a Senate homeland security and governmental affairs investigations subcommittee hearing on offshore profit shifting and the U.S. tax code, on Capitol Hill in Washington, D.C., on May 21, 2013.</media:title>
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			<media:title type="html">ranaforoohar</media:title>
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